Antler Sydney generates 12 portfolio companies, invests $100K in each

Antler, a global startup generator and early-stage VC fund, has invested in 12 startups generated in its inaugural Sydney program.

Of a total of 31 teams formed in the program over the last two months, 12 startups secured Antler’s investment of $100,000 in pre-seed funding.

These teams, consisting of 2-3 founders, will continue in the program for an additional four months and ultimately pitch at Antler’s Demo Day with the aim to secure external seed investment.

The startups had 12 minutes to pitch their business to Antler’s investment committee (IC), followed by a 15-minute interactive Q&A session with the panel.

The startups were assessed on their team, team-product fit, product-market fit, the size of the problem their business is solving, viability and scalability.

The IC consisted of eight venture capital experts from both Antler and the local ecosystem, including Antler Australia and New Zealand Managing Partner Bede Moore, Antler Australia and New Zealand Partner Anthony Millet, Antler co-founder and CEO Magnus Grimeland, and Antler co-founder and COO Fridtjof Berge.

Antler’s investment in the startups is based on a company valuation of just over $1million and is in exchange for 10% equity in the business. As part of the investment, Antler does not seek board seats, and founders are inducted into the global Antler alumni, which they can access for the future of their careers.

The program, the first of its kind in Australia, started in June with 70 individuals from a range of technical and commercial backgrounds.

The 12 portfolio companies span Fintech, InsureTech, Deep Tech and various other industries, and are led by experts in their fields.

Other interesting statistics about portfolio companies:

50% have at least one female co-founder on the founding team

93% of the co-founders met at Antler

67% of the teams built a business off the back of an idea they brought into the program

17% of the founders have an MBA or PHD

21% of the founders have previously founded a company generating more than $1m in revenue

All of the startups have at least one co-founder who was born overseas

“This experience has been remarkable."

—

Bede Moore, Managing Partner of Antler Australia and New Zealand.

“In just eight weeks, these individuals have found their co-founders, identified a problem to solve, validated their solution and built a business model. Not only that, many of these teams have already started on their MVP, made first hires and secured customers,” says Moore.

“The grit and determination these founders have shown has been inspiring, and we’re looking forward to continuing the work with these amazing teams over the next four months, and help prepare them for Demo Day in November.

“Those who didn’t gain investment should also be fiercely proud of what they have achieved. We’ll be working with these teams over the next week, helping them transition into the next phase of their journey, whether that be to join a team which did gain investment, continue on with their idea outside of Antler, or to pursue other opportunities.”

Antler will now help the portfolio companies grow and scale their companies, and provide access to its global network of advisors, investors and experts to help them along the way.

In November, these teams will pitch their startups on stage at Antler’s Demo Day to an audience of up to 500 local and international investors for external seed funding. In previous international cohorts, some teams have secured between $250,000 to $1.5million in external seed funding off the back of this event.

If this sounds like something you want to be a part of, Antler is gearing up to launch its second Sydney program in January 2020. Apply here.

This article was written by Sarah Kimmorley, Director of Communications for Antler in Sydney.